Quote:
Originally Posted by scuba steve
Pay more on your IO ARM. Who knows what it'll recast to, and since it's adjustable your minimum payment will actually drop. Extra payments towards a fixed rate mortgage don't change your monthly payment - only the paid-off date for the loan.
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My thoughts exactly, thank for confirming this. A home just sold for 240K a little smaller than ours today. The last sales history was in 12/04 for $443K:
SDLookup.com > 4033*Palm*Ave - MLS# 080061873
My zip code is pretty busy:
http://www.sdlookup.com/MLS_Updates-66-Nestor
If anyone wants to analyze the data, feel free. Our house is a 3 bedroom 2bath 2 car garage new kitchen 1080 square feet pool/spa
built 1969
We paid 399K in 2004, but we put down 100K from our sale of our 1st house, which sold to a sinlelady and is now bank owned.
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